Innoviva (INVA) Insiders Make Significant Share Sales Extending the Trend of Last Quarter

A significant level of insider sales in Innoviva was disclosed in form 4 documents filed with the SEC today. Three insiders — George B Abercrombie, Officer, Dr Theodore L Witek Jr, Officer, and Eric d’Esparbes, Officer — disposed of 80,344 shares in the company having a market value of approximately $1,323,403. There was one insider buy/sell transaction in the past 90 days prior to these transactions which resulted in the sale of 12,022 shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 92,366 shares and have averaged 23,092 shares per transaction over this time period.

Over the last 90 days, the number of insider buy/sell trades at Innoviva is above its 119-company peer group average. The Pharmaceuticals peer group saw 66 buy/sell trades during this period for an average of 0.6 transactions per company. However, the number of shares traded per transaction by Innoviva insiders is lower than its peers. Within the peer group there were 1,828,831 shares purchased and 4,299,976 shares sold with company insiders having sold 37,442 shares on average over this time period.

To bring into focus significant insider buying and selling activity, all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers has been eliminated in data used to compose and write this story.